Business

5:02 pm

Mon March 31, 2014

Caterpillar to testify Tuesday on offshore taxes

Caterpillar says it acts ethically and complies with all federal and state tax laws. That’s part of the message company Finance Services Vice President Julie Lagacy plans to deliver at a U-S Senate investigative panel Tuesday.

She also plans to emphasize that Cat pays an average income tax rate of 29-percent. Lagacy says that’s one of the highest for a U-S multi-national manufacturing company. A former Caterpillar employee alleged in a 2009 lawsuit that the company took actions involving shell companies to return profits to the U.S. without paying required tax